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The differences between risk analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a risk analyst and an analyst. Additionally, a risk analyst has an average salary of $81,484, which is higher than the $73,007 average annual salary of an analyst.
The top three skills for a risk analyst include risk management, risk assessments and powerpoint. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Risk Analyst | Analyst | |
| Yearly salary | $81,484 | $73,007 |
| Hourly rate | $39.17 | $35.10 |
| Growth rate | 9% | 11% |
| Number of jobs | 71,284 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 67% |
| Average age | 40 | 44 |
| Years of experience | 4 | 4 |
As a risk analyst, you will oversee the identification, assessment, and monitoring of risks that your company has been exposed to. You will evaluate financial documents, potential clients, and economic conditions to determine the level of risk in business decisions. You will be responsible for aggregating data from several sources to develop a comprehensive assessment and create reports, processes, and presentations to better present results. You are also expected to work closely with other team members to analyze and show data effectively.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Risk analysts and analysts have different pay scales, as shown below.
| Risk Analyst | Analyst | |
| Average salary | $81,484 | $73,007 |
| Salary range | Between $59,000 And $112,000 | Between $53,000 And $99,000 |
| Highest paying City | San Francisco, CA | Jersey City, NJ |
| Highest paying state | Connecticut | New Jersey |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Manufacturing | Technology |
There are a few differences between a risk analyst and an analyst in terms of educational background:
| Risk Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between risk analysts' and analysts' demographics:
| Risk Analyst | Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 53.4% Female, 46.6% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 7% | 12% |